DAILY MARKET COMMENTARY
4 May 2011 – 8:00 GMT
Wednesday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURGBP 0.9039/45 resistance.
EURUSD BULLISH Upside potential held at 1.4905; a break here would expose 1.5000. Initial support is at 1.4633.
USDJPY BEARISH Pressure on 80.69; move below this would expose 80.00. Initial resistance lies at 81.69.
GBPUSD BULLISH Pullback targets 1.6438 support; if the level holds, expect recovery towards 1.6661 and 1.6747.
USDCHF BEARISH Bear trend extends; initial support is at 0.8569 ahead of 0.8500. Resistance lies at 0.8761.
AUDUSD BULLISH Break of 1.0953 would expose 1.1012/23 area. Support lies at 1.0775.
USDCAD BEARISH Focus is on 0.9446, break below this would signal potential for weakness towards 0.9400. Resistance is at 0.9576.
EURCHF BEARISH A break of 1.2751/30 support zone would open 1.2624. Near-term resistance is at 1.2880.
EURGBP BULLISH Abrupt recovery yesterday has exposed 0.9039/45 area; a break through this would expose 0.9067. Initial support is at 0.8942, previous high.
EURJPY BULLISH While support at 118.50 holds, expect recovery towards 121.14 and 121.84.
SCHEDULE
Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.
A. White
Analyst at Fibosignals.com
DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.
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